For Immediate Release: November 14, 2000
Contact: Julie Shaw, 202-939-2211

New Working Paper Examines
Brazil?s Privatization Program

A new working paper from the Carnegie Endowment for International Peace analyzes the privatization program in Brazil. The full text can be downloaded from: www.ceip.org/macedo.htm.

Privatization and the Distribution of
Assets and Income in Brazil

Working Paper No. 14, by Roberto Macedo

In the 1990s, the Brazilian government embarked on a new era of privatization. Top Brazilian economist Roberto Macedo examines how a program designed to increase access to capital ownership ended up mostly benefiting big business in Brazil and abroad. Macedo argues that the privatization program contributed to the enlargement of Brazil?s public debt and large fiscal deficits by delaying the 1999 devaluation of the Brazilian real. As a result, the poorest groups are likely to lose out.

Roberto Macedo is a research associate at the Foundation Institute of Economic Research at the University of São Paulo and a weekly columnist at O Estado de S. Paulo, a major Brazilian newspaper.

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